Why 90% Forex traders Fail ?
Why 90 % of traders Fail?
It is a noble truth when someone speaks about This statement in Forex "90% of forex traders Fail"
The question remains why only 10 % succeed in forex training ? What is the secret behind It
One of the philosophers in Greek used To say "Any secret of success is inside you" This statement is very complicated especially for Those who have tried many times but still failed
It is a fact and it is also applicable in Forex trading ,It Just means you are The one who can decide your future,it is your commitment that will lead you To success ,To the climax of your dreams,It is your discpline in Forex trading that will make you one of the pro traders
The Following are The reasons why 90 % Fail
1] LACK OF DISCPLINE
This is the biggest problem and reason why 90% Fail iN Forex trading,Newbies loose because of indiscplined whereby instead of adhering To the trading plan and system per instructions of their mentors emotions control Their trading ending up in a hot chamber blowing their accounts
Every trader must obey his trading system ,trading plan but also If trading under a specified risk To reward Ratio discpline must leads your decision not emotions ,Some believes That STOP LOSS is the market makers hunt eventhough They can make money especiallly when using MMM but That can not last longer if your still a newbie because MENTAL stop loss cant work For you ,Have a plan Have a system ,Have your principles let Discpline leads and you will always make money
2} EXCESSIVE EXPECTATION
In Forex : Most of the traders Fail Because They Think Forex is the short cut towards Wealthy,being Rich having financial freedom where you can drive what you want
The truth is ,There is no a holy shortcut towards success on Earth,Unless otherwise It is sinful,any success needs Time needs investment and lucky being the last point,
To succeed in Forex trading ,You needs suffient current knowledge,and not just knoweledge ,You need To updates your mind daily especially in Forex and therefore always a student
3] DYNAMIC MINDSET
most of traders are not static in Financial Market,instead of being an expert in one thing before moving To the next level ,what they do is thing about changing types of brokers because of lost trades,stop trading PAIRS OF CURRENCIES and twiSt To voaltility index etc ,This is useless as long as your mind is not updated ,has nothing new,
Stick To pairs before moving To index ,before thinking about CFD ,stop that behaviour because you will never be a proffession as long as none of the financial markets you are expert at,Think about strategies that will increase The number Of pips in your trades,Think about what Risk management should be followed
All in all knowledge is very important in forex trading
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